New project of Mengna Socks settled in Xinjiang

Zhejiang based Mengna Socks held its inauguation ceremony for its“cotton socks processing project with annual production 10 million dozens”in Shawan County, Xinjiang on July 4, which raised the curtain of then investment of Mengna Socks in Xinjiang. Mengna Socks planned to invest heavily in sock industry in Xinjiang, and to build a 500,000-spindles spinning project (includes printing & dyeing, color dyeing). Regarding this project, 0.52 billion yuan is planned for the first stage investment, with a 10-million-dozen cotton socks production line. After it is built, the annual sales revenue could reach 0.5 billion yuan, profit & tax 0.125 billion yuan.